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Va Tech Wabag Ltd.

BSE: 533269 Sector: Engineering
NSE: WABAG ISIN Code: INE956G01038
BSE 00:00 | 12 Aug 248.45 -2.25
(-0.90%)
OPEN

253.50

HIGH

253.50

LOW

247.00

NSE 00:00 | 12 Aug 248.30 -2.20
(-0.88%)
OPEN

250.00

HIGH

252.00

LOW

247.00

OPEN 253.50
PREVIOUS CLOSE 250.70
VOLUME 29189
52-Week high 374.80
52-Week low 220.00
P/E 14.41
Mkt Cap.(Rs cr) 1,545
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 253.50
CLOSE 250.70
VOLUME 29189
52-Week high 374.80
52-Week low 220.00
P/E 14.41
Mkt Cap.(Rs cr) 1,545
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Va Tech Wabag Ltd. (WABAG) - Chairman Speech

Company chairman speech

Dear Stakeholders

At WABAG we are committed to provide safe and clean water bytransforming & manufacturing water by our innovative and advanced technologies meetingthe requirements of our customers besides enriching the lives of our communities. Also weare treating the wastewater to avoid pollution and manufacture water to ensure watersecurity for industries and community.

I am very proud of our team?s accomplishments as we have navigatedan unprecedented two-year period of managing the impacts of the Covid-19 pandemic. I wouldlike to express my heartfelt gratitude for our frontline workers whose untiring effortsat ensuring the safety and well-being of our employees and communities have allowed us tohold our heads high and continue our operations without disruptions. Despite thechallenges we have been able to create sustained value for our stakeholders.

Success Story

In the last 25 years in India there have been major milestones in ourjourney such as management buyout erstwhile parent acquisition IPO and realignment. Ourhuman capital has always been the strength and spine of our Company. We have transformedWABAG from a regional company into a globally respected corporation.

Standing Tall

We have had many hiccups in the past years interrupting our growthjourney. All these challenges have not only affected the economy worldwide but also haveimpacted industries.

WABAG with its global presence successfully sailed through this verydynamic period prioritising the health and safety of our employees while significantlystrengthening our balance sheet and improving our brand reputation with our focus onbusiness growth. We have endured and stood tall in the face of challenges in the past andcontinue to take care of the key resource ‘Water?.

Our business strategy has proven resilient despite inflationarypressures supply chain constraints and restricted availability of skilled workers.

Financial Overview

At WABAG we have continued our ‘Profitable Growth?journey...

> Consolidated Total Income of INR 30117 million

> Consolidated PAT of INR 1319 million; YoY up by 20%

> Order book of over INR 100000 million including Frameworkcontracts; representing robust revenue visibility

Cash and Working Capital Focus...

> Another consecutive year of positive operational cash flowgeneration of INR 112 million on consolidated basis; Group continues its turnaround fromNet Debt to Net Cash of INR 96 million

> Net Working Capital improved to 87 days

> Efficient execution driving consecutive years of net cash positivestatus and improved net working capital

ESG Focus

In this challenging environment our focus on operational excellencecontinues to help us navigate the crisis. In a post-pandemic world these lessons willenable us to maintain high levels of resilience.

We also made further progress in terms of our Environmental Social andGovernance (ESG) activities which are an essential part of our strategy and an importantreputation driver. We prioritise social well-being and giving back to society.

Future Ready

Going forward given our past achievements and our foundation of owningand integrating robust technology across the business we are future ready. Our businesswhat we call is ‘Water Treatment? or ‘Water Manufacturing? wherein weconvert and desalinate non-usable sea water into potable form serving millions of liveson earth.

As far as Desalination market is concerned India is seeing tractionand there are plenty of business opportunities in industrial segment for captive use.There are five states which have a firm policy of recycling and re-use of water.

After the success of Namami Gange the Government of India hasidentified more than 30 rivers for rejuvenation. Our presence in river rejuvenation andGovernments? focus with INR 19000 crore being allocated to 13 rivers in the countrygives us tremendous scope for bright business prospects.

In Middle East governments have again increased their focus oninfrastructure spending which will bring a lot of new projects including desalinationre-cycle and re-use proposals which will be another growth area.

> Oil & Gas has seen revival of expansion especiallypetrochemicals.

> Post COVID-19 industries are back to normal and resumption ofCAPEX is being witnessed.

> Northern Africa is going for desalination for water securityCOVID-19 has brought focus of Government in Sub-sahara region and we see resumption offiscals G2G.

> Upgradation to new norms and technologies like Switzerland andGermany going for removal of micropollutants.

> Outsourcing witnessed traction both in industries and urban localbodies.

Expression of Gratitude

I take this opportunity to express my sincere appreciation of servicesof Mr. Malay Mukherjee erstwhile Chairman who passed away on January 29 2022 at NewDelhi due to illness. He was a non-executive independent director since 2015 at WABAG andheading the Board as a non-executive independent Chairman. As Chairman and member ofBoard/ various other Board Committees of the Company he was instrumental in bringing invarious policy changes process and business decisions which benefited the Company atlarge. His dedication support guidance remain an inspiration to all of us at WABAG.

I also take this opportunity to record my sincere appreciation ofservices of Mr. Arnold Gmuender who held various senior positions in WABAG Group for over2 decades passed away on February 3 2022 at Switzerland due to illness. He madesignificant contribution not only to WABAG Switzerland but to the whole WABAG Group inimplementation of various proprietary technology of the Group. Mr. Gmuender was a rarecombination of hard core technologist and an excellent client connection in Europe region.He was leading WABAG Switzerland entity as Managing Director initially and later took upadditional responsibility of development of South-East Asian region. He was on the Boardof different group entities in WABAG and prior to his retirement from WABAG was theChairperson in the three member?s Committee that was managing WABAG Europe Cluster.

Closing Note

I would like to express my gratitude to all my Board members and thewhole team of WABAG who have been standing shoulder to shoulder in all the situations. Iam also grateful for the support and cooperation received from all our stakeholders.

Sincerely
Rajiv Mittal

.